Advantages of Online Banking for Smart Money ManagementLearn about the advantages of online banking to help you organize your personal finances. Discover the online banking advantages for yourself and apply today.Tips for Smart Money Management

Understanding where your money is going is key to effective money management. Online banking features can help you keep your finances on track.

Do you know how much money you have in your checking account? If you have just a rough idea, you may want to take a closer look at how you manage and track your account activity. Online banking can make this easier by offering convenient access to your account information and the ability to pay bills and move your money. The following tips will show you how to use online banking services to your advantage.

Access your bank accounts anytime, anywhere With online banking you can securely bank anytime and anywhere you want as long as you have access to the Internet. You can use your computer – or, with some banks, even your smartphone – to check your balance, transfer money and pay bills on the go. Mobile banking services are generally available to you at no cost, but keep in mind that you may incur charges from your mobile service provider depending on your wireless plan. Some banks also offer mobile banking features like a mobile web site and mobile app to enable truly on–the–go banking and money management.

Keep track of account balances to help avoid overdraft fees Sometimes it’s far too easy to lose track of your money when you’re busy trying to balance work and family. Online banking can help you keep tabs on your money and account balances. Many banks even let you set up alerts online to notify you when your balance is low, if a bill is due, when your pay check is direct deposited and more. Alerts are a great way to keep track of the amount of funds in your account and help avoid incurring overdraft and late payment fees.

You can also use your smartphone to check your account via mobile banking right before you make a purchase. Remember to mentally subtract any checks you’ve written that haven’t been cashed, as well as any automatic payments due to come out of your account soon. Many online and mobile banking services also enable you to transfer funds from your savings account to your checking to ensure purchases are covered. (Learn more about Bank of America overdraft solutions.)

Organize your bill payments Paying your bills online can make your banking life much easier. You can avoid the hassle of paper bills, making extra trips to your bank or worrying about checks being lost in the mail. Beyond that, paying your bills online keeps all of your billing records in one easy–to–find place. You can also set up automatic payments using your debit or credit card.

See how much you pay, and to whom Many online banking systems let you see exactly how much you have paid to any given company over a certain period of time, be it your mortgage provider, dry cleaner or power company. When tax season rolls around, you can easily access a record of all the online payments you’ve made. For example, you can see an aggregated total of payments to your mobile carrier to figure out how many of those charges could be tax deductible.

Protect yourself Tips for money management through online and mobile banking wouldn’t be complete without a note on security. Banks take the security of their online banking services very seriously. In addition to site encryption, most banks also exempt users from liability for fraudulent transactions, guard their users’ personal information and ensure accurate as well as fast online transactions. (Note: Bank of America ensures your protection via its Online Banking Security Guarantee.)

If you haven’t yet taken advantage of the features mentioned above, take some time to set them up to ensure you’re using online banking to its full potential. Your local bank branch may be able to guide you in setting up online and mobile banking as well as provide other money management tips.

Ready to get started with Online Banking? Learn more about industry–leading online bankingsolutions from Bank of America.

Advantages of Online Banking for Smart Money ManagementLearn about the advantages of online banking to help you organize your personal finances. Discover the online banking advantages for yourself and apply today.advantages of online banking, online banking advantages

Tips for Smart Money Management

Understanding where your money is going is key to effective money management. Banking online can help you keep your finances on track.

Do you know how much money you have in your checking account? If you have just a rough idea, you may want to take a closer look at how you manage and track your account activity. Banking online can make this easier by offering convenient access to your account information and the ability to pay bills and move your money. The following tips will show you how to use these services to your advantage.

Access your bank accounts anytime, anywhere

Banking online allows you to securely bank anytime and anywhere you want as long as you have access to the internet. You can use your computer (or, with some banks, your smartphone) to check your balance, transfer money and pay bills on the go. Mobile banking services are generally available to you at no cost, but keep in mind that you may incur charges from your mobile service provider depending on your wireless plan. Some banks also offer features like a mobile website and mobile app to enable on-the-go banking and money management.

Keep track of account balances to help avoid overdraft fees

Sometimes it's far too easy to lose track of your money when you're busy trying to balance work and family. Banking online can help you keep tabs on your money and account balances. Many banks even let you set up alerts to notify you when your balance is low, if a bill is due, when your paycheck is direct-deposited and more. Alerts are a great way to keep track of the money in your account and help avoid incurring overdraft and late-payment fees.

You can also use your smartphone to check your account via Mobile Banking right before you make a purchase. Remember to mentally subtract any checks you've written that haven't been cashed, as well as any automatic payments due to come out of your account soon. Many digital banking services also enable you to transfer funds from your savings account to your eligible checking account to ensure purchases are covered. (Learn more about Bank of America overdraft solutions.)

Organize your bill payments

Paying your bills online can make your banking life much easier. You can avoid the hassle of paper bills, making extra trips to your bank or worrying about checks being lost in the mail. In addition, paying your bills online keeps all of your billing records in one easy-to-find place. You can also set up automatic payments using your debit or credit card.

See how much you pay, and to whom

Many online banking systems let you see exactly how much you’ve paid to any given company (such as a mortgage provider, dry cleaner or utility company) over a certain period of time. When tax season rolls around, you can easily access a record of all the online payments you've made. For example, you can see an aggregated total of payments to your mobile carrier to figure out how many of those charges could be tax deductible.

Protect yourself

Tips for money management through digital banking wouldn't be complete without a note on online and mobile security. Banks take the security of their online services very seriously. In addition to site encryption, most banks also exempt users from liability for fraudulent transactions, guard their users' personal information and ensure accurate as well as fast online transactions. (Note: Bank of America helps to ensure your protection via its Online Banking Security GuaranteeFootnote1.)

If you haven't yet taken advantage of the features mentioned in this article, take some time to set them up to ensure you're maximizing the potential of banking online. Your local bank branch may be able to guide you in setting up digital banking and can provide additional tips for smart money management.

Ready to get started with Online Banking? Learn more about industry-leading Online Banking solutions from Bank of America.

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You are not liable for fraudulent Online Banking transactions when you notify the bank within 60 days of the transaction first appearing on your statement and comply with security responsibilities. See our Online Banking Service Agreement for full terms and conditions.

Advertising Practices

We strive to provide you with information about products and services you might find interesting and useful. Relationship-based ads and online behavioral advertising help us do that.

Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have.

If you prefer that we do not use this information, you may opt out of online behavioral advertising. If you opt out, though, you may still receive generic advertising. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.

Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. These ads are based on your specific account relationships with us.

Advertising Practices

We strive to provide you with information about products and services you might find interesting and useful. Relationship-based ads and online behavioral advertising help us do that.

Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have.

If you prefer that we do not use this information, you may opt out of online behavioral advertising. If you opt out, though, you may still receive generic advertising. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.

Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. These ads are based on your specific account relationships with us.